Albertson's COO Lynch Resigns

The company also affirms its earnings guidance for the full year.
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said one of its top executives resigned from his position, and the food and drug retailer reaffirmed its guidance for the full year.

In a press release Thursday, Albertson's said Peter L. Lynch has resigned as president, chief operating officer and a director to pursue other interests. Larry Johnston, the company's chairman and CEO, will assume the additional responsibilities of president.

Additionally, Albertson's said it still expects to earn $1.70 to $1.75 a share for the full year. Analysts polled by Thomson First Call are looking for a profit of $1.71 for the fiscal year.

Albertson's, based in Boise, Idaho, operates about 2,300 retail stores in 31 states under the names Albertson's, Acme and Super Saver, among others.

Shares of Albertson's were recently lower by 17 cents at $18.59 on the

New York Stock Exchange